Innovus Pharma Signs Exclusive License and Distribution
Agreement with Lavasta Pharma for ProstaGorx in Certain Middle
Eastern and North African Countries
The Company to Receive an Upfront Payment plus Transfer
Price on Minimum
Annual Purchases
Requirements
San
Diego, CA -- January 23, 2018 -- InvestorsHub NewsWire
-- Innovus
Pharmaceuticals, Inc. ("Innovus Pharma" or the "Company") (OTCQB
Venture Market:
INNV), an emerging over-the-counter ("OTC") consumer goods and
specialty pharmaceutical company engaged in the commercialization,
licensing and development of safe and effective non-prescription
medicine and consumer care products to improve men's and women's
health and vitality and respiratory diseases, announced today the
signing of an exclusive license and distribution agreement
with Lavasta
Pharma
FZ-LLC, a company based in Dubai ("Lavasta") for the
commercialization of ProstaGorx
in
the
Kingdom of Saudi Arabia, Algeria, Egypt, the United Arab Emirates,
Lebanon, Jordan, Kuwait, Morocco, Tunisia, Bahrain,
Oman, Qatar, and
Turkey,
among
other countries.
Under the agreement, Innovus Pharma will receive an
up-front
license payment,
will sell the products to
Lavasta at set supply prices and Lavasta has certain minimum annual
purchase requirements.
"We are pleased to
expand our international exports of our products through
the introduction
of
our
ProstaGorx product
in
the
Middle
East and North Africa regions
through
this partnership
with
Lavasta," said Innovus
Pharma CEO, Dr. Bassam Damaj.
"Lavasta is our
19h distribution partner
for our products outside the United States and represents our second
major partnership to sell one of our core
U.S.
products abroad," said Innovus CEO
Dr. Bassam Damaj. "This partnership is one more step
towards achieving our
2018 corporate goals
for expanded
revenue
and profitability from our many
international
distributors," continued Dr. Damaj.
"We are excited to
introduce ProstaGorx
to many
countries throughout the Middle East. We
believe
this
product
meets large unmet
needs in the region and we
look forward to partnering with Innovus Pharma here
through
the use of our extensive marketing channels and sales
forces in these
countries,"
said
Tara
Banasi, President of Lavasta.
About ProstaGorx and
Prostate Health
Prostate health
issues affect millions of men and it is important to offer a
natural, clinically tested, alternative product with a potentially
approved claim for urologic symptoms of BPH. With multiple
published clinical trials, ProstaGorx ingredients have been shown
to:
1. Work with the
prescription drug finasteride to reduce actual prostate
weight;
2.
Regulate
DHT production and hormones that influence prostate
volume;
3.
Clinically reduce
nocturia, and improve prostate symptoms in men with BPH or
prostatitis;
4.
Clinically reduce overall rate of progression of prostate cancer in
men; and
5.
Decrease
serum PSA levels, suppression of tumor growth and support urinary
function.
An estimated 50% of
men have histologic evidence of BPH by age 50 and 75% by age 80; in
4050% of these men, BPH becomes clinically
significant] BPH
was one of the ten most common, and costly, diseases in men older
than 50 years of age in a recent study in the United
States.
About Innovus Pharmaceuticals,
Inc.
Headquartered in San
Diego, Innovus Pharma is an emerging over-the-counter ("OTC")
consumer goods and specialty pharmaceutical company engaged in the
commercialization, licensing and development of safe and effective
non-prescription medicine and consumer care products to improve
men's and women's health and vitality and respiratory diseases.
Innovus Pharma delivers innovative and uniquely presented and
packaged health solutions through its (a) OTC medicines and
consumer and health products, which we market directly, (b)
commercial partners to primary care physicians, urologists,
gynecologists and therapists, and (c) directly to consumers through
our on-line channels, retailers and wholesalers. The Company is
dedicated to being a leader in developing and marketing new OTC and
branded Abbreviated New Drug Application ("ANDA") products. The
Company is actively pursuing opportunities where existing
prescription drugs have recently, or are expected to, change from
prescription (or Rx) to OTC.
For more information,
go to www.innovuspharma.com, www.zestra.com; www.ejectdelay.com; www.myvesele.com; www.urivarx.com; www.sensumplus.com; www.myandroferti.com; www.fluticare.com; www.beyondhumantestosterone.com; www.getbeyondhuman.com; www.trybeyondhuman.com; www.recalmax.com; www.allervarx.com; www.apaez.com; and www.prostagorx.com.
About Lavasta Pharma
Lavasta Pharma is a multi-specialty health care company focused on
representing and
commercializing innovative pharmaceuticals and over-the-counter
consumer products
that enable people to live life to its greatest potential. The
company's services
currently extend to cover the region of Africa, Middle East and
Turkey.
Lavasta Pharma has a regional team that manages the strategic
execution of commercial
operations across the AFMET region with a sales force team on
the
ground of 150+ across the region.
Lavasta Pharma has 2 main affiliated companies: (a) Lavasta Pharma
FZ-LLC
in
Dubai, UAE that serves as the main commercial hub for the AFMET
Region and (b)
Lavasta Pharma LLC- UK in London, UK that serves as the Marketing
Authorization and Intellectual Property holding entity.
Innovus Pharma's Forward-Looking
Safe Harbor:
Statements under the
Private Securities Litigation Reform Act, as amended: with the
exception of the historical information contained in this release,
the matters described herein contain forward-looking statements
that involve risks and uncertainties that may individually or
mutually impact the matters herein
described for a variety of reasons that are outside the control of
the Company, including, but not limited to, receiving patent
protection for any of its products, to successfully
commercialize ProstaGorx
and
others in certain Middle
Eastern and North
African countries
and
elsewhere
and to
achieve its other development, commercialization, financial and
staffing objectives. Readers are cautioned not to place undue
reliance on these forward-looking statements as actual results
could differ materially from the forward-looking statements
contained herein. Readers are urged to read the risk factors set
forth in the Company's most recent annual report on Form 10-K, and
other filings made with the SEC. Copies of these reports are
available from the SEC's website or without charge from the
Company.
# # #
Contact:
James S. Painter
III
Emerging Markets
Consulting, LLC
Tel: 407 340
0226
jamespainter@emergingmarketsllc.com